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REGISTERED NUMBER: 03064806 (England and Wales)















Chesley Limited

Unaudited Financial Statements for the Year Ended 30 June 2023






Chesley Limited (Registered number: 03064806)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Chesley Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mrs L Stroud
Mr P M Taylor FCA



REGISTERED OFFICE: Kinsarvik
Westcliff Drive
Minster
Sheerness
Kent
ME12 2LR



REGISTERED NUMBER: 03064806 (England and Wales)



ACCOUNTANTS: Foreman Waller
Chartered Accountants
1 High Street
Sheerness
Kent
ME12 1NY



BANKERS: Barclays Bank
Ashford
Kent

Chesley Limited (Registered number: 03064806)

Statement of Financial Position
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 344,546 340,705
Investment property 5 1,600,000 1,600,000
1,944,546 1,940,705

CURRENT ASSETS
Debtors 6 35,361 34,115
Cash at bank 10,305 5,202
45,666 39,317
CREDITORS
Amounts falling due within one year 7 14,157 9,523
NET CURRENT ASSETS 31,509 29,794
TOTAL ASSETS LESS CURRENT LIABILITIES 1,976,055 1,970,499

PROVISIONS FOR LIABILITIES 334,834 202,400
NET ASSETS 1,641,221 1,768,099

CAPITAL AND RESERVES
Called up share capital 75 75
Share premium 448,591 448,591
Fair Value reserve 1,019,900 1,143,699
Retained earnings 172,655 175,734
SHAREHOLDERS' FUNDS 1,641,221 1,768,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Chesley Limited (Registered number: 03064806)

Statement of Financial Position - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:





Mr P M Taylor FCA - Director


Chesley Limited (Registered number: 03064806)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Chesley Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Income recognition
Turnover represents property rental income due for the year.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the income statement

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted by the year end date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Chesley Limited (Registered number: 03064806)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 July 2022 340,705
Additions 56,331
Disposals (58,183 )
Revaluations 5,693
At 30 June 2023 344,546
NET BOOK VALUE
At 30 June 2023 344,546
At 30 June 2022 340,705

Cost or valuation at 30 June 2023 is represented by:

Other
investments
£   
Valuation in 2023 344,546

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,600,000
NET BOOK VALUE
At 30 June 2023 1,600,000
At 30 June 2022 1,600,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2022 1,600,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 33,176 32,105
Other debtors 2,185 2,010
35,361 34,115

Chesley Limited (Registered number: 03064806)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 13,260 8,652
Other creditors 897 871
14,157 9,523